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Posted Sun, 05 Nov 2023 17:44:56 GMT by HelNeedsHelp
Hi, this is a 2 part question, please can you help? A) I was made redundant at the end of February 2023. I received part of my redundancy pay at the end of March 2023, and the rest at the end of April 2023. Do I need to enter the total of all of my redundancy pay in my 2022-23 self assessment, or just the amount that I received in the 2022-23 tax year? B) I have read the help notes but am still completely confused about what to enter into each box! I am filling it on online, and all the supporting notes refers to box numbers, however in the online form there are no box numbers. I'm also finding the worksheet confusing and ambigious. I received the following and have no idea what to put in which box online: 31 March 2023: Redundancy - not taxed : £11,134.5 31 March 2023: Notice/PILON: £14,785.98 31 March 2023: Accrued holiday entitlement: £2,464.33 31 March 2023: Recruitment bounty bonus owed to me (not part of redundancy package) £1000 31 March 2023: £640.73 personal pension contribution was deducted and paid to my work pension 31 March 2023: £98.57 employer pension contribution was deducted The whole lot was taxed together £7,444.70 tax & £866.05 national insurance 28 April 2023: Redundancy not taxed 28 April 2033: Redundancy taxed (£10486.35 tax & £962.13 NI) Thanks
Posted Thu, 09 Nov 2023 08:31:55 GMT by HMRC Admin 25
Hi HelNeedsHelp,
The redundancy payment up to 5 April 2023, should be included in the P60 and would be declared in your 2022 to 2023 tax return.
The remainder of your redundancy payment should be shown on a P45 and declare 23/24 tax year.
As we cannot comment on scenarios, you will need to contact the Self Assessment helpline 0800 200 3310 for a more detailed response.
Thank you. 


 

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